Audiobook: The Case for a 100 Percent Gold Dollar by Murray N. Rothbard - Galt's Gulch

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Audiobook: The Case for a 100 Percent Gold Dollar by Murray N. Rothbard

Posted by haseloff 7 years, 4 months ago to Economics

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Posted by allosaur 7 years, 4 months ago

Should happen. Won't happen. Not ever again. Why? Politicians.
The possible exception? The aftermath of a titanic economic collapse when lots of people die most likely from starvation.

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Posted by Lucky 7 years, 4 months ago

There is a technical reason why pure gold is unsuitable as currency, it is too soft therefore malleable and subject to wear.
(Apology to Rothbard if the vid which I have not watched dealt with that point.)

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  Posted by j_IR1776wg 7 years, 4 months ago
  
  "...Ever since the creation of the Byzantine monetary system by Constantine in 312, its pivot had been golden solidus, a coinage whose nominal value was equal to its intrinsic value, as is proven by the Theodosian Code.[55] Solidus became a highly priced and stable means of storing and transferring values[56] Novel 16 of Valentinian III punished with death anyone who dared "refuse or reduce a gold solidus of good weight."[57]..."
  https://en.wikipedia.org/wiki/Bezant
  
  Actually gold coins powered the Byzantine empire for a thousand years.
  
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